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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
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